If you think buying a new car is an investment, you are sadly mistaken. A new car starts depreciating the moment you drive it off the dealership. The depreciation continues, and the car loses half its value within three years of purchase. Although the new car comes with some perks such as warranties, free servicing for a year, and low financing, it cannot withstand the law of depreciation. On the other hand, a used car depreciates at a slower pace as compared to a brand-new car. When you are buying a used car, you are already purchasing it at its depreciated price.
Offers good variety within your budget
Every year, quite a number of new car models are launched, and a few cars undergo updates. There is quite a lot of options available in the new car market, but not quite as much as what options the used car market has to offer. Whatever your choice in a car is – minivan, SUV, sedan, hatchback, etc., the used car market has more options than the new car market
No cheating here, now get certified used cars with warranty
As the auto industry has evolved, the way used cars are sold and purchased has evolved as well. Now, you don’t really need to rely on just the verbal assurance of a cunning car salesman, dealer or an individual regarding the used car being perfectly fine. You can also get an additional post purchase warranty to ensure that the used car you just bought runs more like a new one!
Low insurance costs
As the used car is of a lesser value than a new car, the cost to insure a used car is lesser. The annual insurance premium is lower because the car is already depreciated.
